OakBend Medical Center | Fort Bend County Hospital



2847975-630555Charitable IRA Distributions020000Charitable IRA DistributionsThank you for your interest in making a charitable gift to OakBend Medical Center in the form of a qualified charitable distribution (QCD) from your IRA. A QCD allows a donor age 70 ? or older to donate up to $100,000 per year from your IRA (or Roth IRA) directly to a qualified charity and exclude it from income. The donor can use a QCD to satisfy his or her required minimum distribution. Requirements for making a QCD:Limit of $100,000 per year. Funds must be drawn from an IRA – employer plans are not eligible. Funds must go directly from the IRA institution to the charitable organization. The account owner must be at least age 70 ?. The funds must go to a qualifying charitable organization – QCDs cannot go to private foundation or donor advised funds. You can't claim a charitable contribution deduction for any QCD not included in your income.Benefits of QCDs:Charitable contributions made through qualifying charitable distributions reduce the donor’s adjusted gross income (AGI). A lower AGI can reduce the amount of Social Security benefits that are subject to tax and can increase the amount of medical and miscellaneous expenses you can deduct. A lower AGI may also reduce your Medicare premiums.The QCD rules applies to individual IRAs, so both you and your spouse (over age 70 ?) can potentially double the benefit when filing jointly. OakBend Medical Center is a 501(c)(3) organization. Tax ID number 76-0339462.For more information, please contact Development Director Michelle Hammel at 281-341-2014 or by email at mhammel@. Gifts can be mailed to:OakBend Medical CenterAttn: Development Department1705 Jackson StreetRichmond, Texas 77469 ................
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